Mr Chakrit said the agency and the ADB jointly hosted a meeting on public debt management by Asian countries last week in which executives of public debt management agencies from 46 countries in Asia and Europe, plus representatives of the ADB, the World Bank, the International Monetary Fund, and Standard and Poor’s participated.

At the March 16-18 meeting the ADB representative hailed Thailand for its efficient public debt management. At present, the country’s foreign debt accounts for only 8 per cent of total public debt. Of this, 2 per cent is debt incurred by the government.

Thailand had also developed the secondary market and issued bonds with a maturity of 5, 10, 15, 20, 30, and 50 years.

In addition, the country had developed various types of bonds to cater to investor demand.

The Manila-based ADB has the view that developing countries in Asia should expand their secondary markets in a way similar to that which Thailand had done, he said.

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